Kekst CNC is working Japan's Softbank Group's $40B stock and cash deal to merge its UK-based Arm Limited unit into Nvidia Corp., a transaction the Wall Street Journal calls “one of the largest semiconductor takeovers ever.”
Nvidia, which is headquartered in Santa Clara, CA, says the acquisition joins its world-class AI computer platform with Arm’s ecosystem to “create the premier computing company for the age of artificial intelligence, accelerating innovation while expanding into large, high-growth markets.”
The deal will expand Nvidia’s graphic processors used for videogames into markets such as smartphones, PCs, self-driving cars and robotics.
“In the years ahead, trillions of computers running AI will create a new internet-of-things that is thousands of times larger than today’s internet-of-people,” said Nvidia CEO/founder Jensen Huang. “The combination will create a company fabulously positioned for the age of AI.”
Softbank, which bought Arm for $32B four years ago, is expected to own less than 10 percent of Nvidia once the deal is finalized.
Kekst CNC’s Jeremy Fielding and Richard Campbell are fielding media calls for Softbank. Publicis Groupe owns Kekst CNC.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
